NewPeak Metals (ASX:NPM) says assays from its first drill hole at the Las Opeñas Gold Project in Argentina have intersected a ‘large-scale’ gold-zinc-silver mineralised system.
The 663m hole returned 0.41 grams per tonne gold equivalent, including 0.16g/t gold (Au), 0.65% zinc (Zn), and 4.53g/t silver (Ag).
Selected higher-grade intercepts include 84m @ 0.72g/t gold equivalent from 20m and 282m @ 0.65g/t gold equivalent from 7m.
The company drilled the hole approximately 5m from historic hole 12-LODH-03, which Genesis Minerals (ASX:GMD) drilled in 2012. At the time, it returned 115m @ 0.58g/t Au, 0.65% Zn, and 3.5g/t Ag from 18m to end of hole.
Managing Director Mark Purcell says uncovering a system of “such substantial scale” is exactly what the company had hoped to achieve.
“The presence of meaningful zinc and silver credits is also very encouraging, given both metals have been formally recognised as critical minerals by the [US Geological Survey] in 2025,” Purcell says.
The company completed 2,464m of diamond drilling across six holes between April and June 2026.
Drilling targeted and tested for ‘large-scale’ gold-dominant polymetallic mineralisation within an 800m by 600m breccia zone at the project, located 70km southeast of Barrick (NYSE:B) and Shandong’s (SHA:600547) Veladero Mine in San Juan Province.
NewPeak expects assay results from the remaining five drill holes within the next three to six weeks.
The company says assuming favourable results, it is well placed to push towards declaration of a maiden resource at Las Opeñas.
Meanwhile, permitting is already in place to recommence drilling up to another 7,500m, pending supplier availability.
NewPeak Metals is focused on identifying and advancing precious and base metal projects globally, with current flagship assets in Argentina and Australia.
Write to Paula Fabe at Mining.com.au
Images: NewPeak Metals
